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Video: Keiser Report: ‘Buy bitcoin’ v ‘buy gold’ (E1148)

Check Keiser Report website for more: http://www.maxkeiser.com/ Max and Stacy discuss 'buy bitcoin' overtaking 'buy gold' in search engines. They also look at ... Via...
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Video: Keiser Report: If Only Arrested Saudi Prince Owned Bitcoin (E1147)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report Max and Stacy ask whether or not Prince Alwaleed bin...

US Secret Service agent gets 2 more years in jail for Silk Road bitcoin...

Published time: 9 Nov, 2017 05:05 A former Secret Service agent has been sentenced to an...
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Video: ‘Cryptohouse’ heated by bitcoin generation keeps miners toasty in Siberia

Engineering enthusiasts in Irkutsk, Russia, have transformed a bitcoin miner to a sufficient power generator for private housing, footage filmed Wednesday ... Via Youtube

Assange thanks US authorities who forced him to invest in Bitcoin — RT America

Published time: 15 Oct, 2017 09:52 WikiLeaks founder Julian Assange posted a sardonic ‘thank you’ note...
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Video: Keiser Report: Time for #CrashJPMBuyBitcoin? (E1129)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report from Aspen, Colorado, as JPMorgan's CEO calls bitcoin a ... Via...
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Video: Keiser Report: China Effect on Oil & Bitcoin Markets (E1127)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report, Max and Stacy discuss the China Effect on oil and...
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Video: Bitcoin doesn’t look like it’s going away: 5 facts you need to know...

Bitcoin doesn't look like it's going away. Here's why. RT LIVE http://rt.com/on-air Subscribe to RT! Via Youtube
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Video: ‘Bitcoin Laundering’: US seeks extradition of Russian national accused of cyber crime

The US government are pushing for the extradition of a Russian national, he is accused of cybercrimes and money laundering. RT spoke to his...

Bitcoin Soars To Record High $4,600

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Video: Keiser Report: Bitcoin bond (E1116)

As the bond market arrives for bitcoin, Max and Stacy discuss 'high finance' meeting cryptocurrency. Will this bring in more liquidity or more manipulation? Via...
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Video: Keiser Report: ‘Bitcoin’s going to be worth a trillion dollars soon’ (E1113)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report Max and Stacy discuss the Trump administration starting ... Via Youtube

HBO offered GoT hackers $250k Bitcoin ‘bounty’ – emails

Published time: 11 Aug, 2017 18:00 HBO has offered a group that stole 1.5 terabytes of...
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Video: Keiser Report: Bitcoin Drama (E1106)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this final episode of the Keiser Report from Freedom Fest in Las Vegas, Max and Stacy...

Bitcoin could ‘fork’ itself trying to split into two separate currencies

After years of debate, the Bitcoin community could not come to an agreement about the future...
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Video: Keiser Report: Make Bitcoin Great Again (Summer Solutions E1099)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report's annual Summer Solutions series, Max and Stacy talk to ... Via...

Cryptocurrency exchanges shut down amid heavy trading, rollercoaster Bitcoin

The Bitcoin market hit record highs over the weekend before dropping further than it has in...
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Video: Keiser Report: Bitcoin Stealing Gold’s Thunder (E 1076)

In this episode of the Keiser Report Max and Stacy discuss the argument that progressives should back building weapons for the job creation. In...

Hackers seize unreleased Disney film, demand ‘huge’ Bitcoin ransom – report

The latest movies in the Disney franchises “Pirates of the Caribbean” and “Cars” are set to hit the big screen this summer, but Disney...

WannaCry hackers have not withdrawn any ransom bitcoin, surveillance shows

Published time: 15 May, 2017 15:40 Hackers collecting bitcoin following Friday’s cyberattack have not yet...

Bitcoin Surpasses $1,500 for the First Time

The world's most popular cryptocurrency continues to set historic highs this week. Bitcoin cracked the $1500 barrier on Thursday. Bitcoin was trading...

Washington state bill would ban bitcoin for marijuana sales

A new bill in Washington state seeks to bar the use of Bitcoin in any sales...

Bitcoin Bombs by 31% in a Matter of Hours

Bitcoin, the best-performing currency of 2016, has reported its biggest drop in two years just days after reaching a three-year-high of $1,000....

Bitcoin wallet service ordered to give IRS 3 years of user data

A California federal court judge has called on Coinbase Inc., a bitcoin wallet service, to give...
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Video: CONFIRMED: NSA Hacked, Information Auctioned At 1 Million Bitcoin

In this video Luke Rudkowski covers the latest news of how the offensive branch of the NSA was recently hacked and the information is...

Judge dismisses laundering charges, says Bitcoin not money

A court in Miami, Florida threw out criminal charges against a man being tried for illegally...
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Video: Keiser Report: Bitcoin Core versus Bitcoin Classic (E912)

Every week Max Keiser looks at all the scandal behind the financial news headlines. In this episode of the Keiser Report, Max and Stacy...

Shkreli, America’s most ‘hated’ man, loses $15M in Bitcoin with Kanye album scam

Get out your tiny violins. Martin Shkreli, the man America loves to hate, appears to have lost $15 million in bitcoins after he tried...
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Video: EU to crack down on Bitcoin, seeks de-anonymizing exchanges citing terror threat

RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook ... Via Youtube
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Video: Keiser Report: Paris attacks, COP21 & Bitcoin network (E847)

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the situation in Paris where they find, 'Je suis en terrasse,...
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Video: Bitcoin spikes as Russian fraudster starts Ponzi scheme in China

The bitcoin exchange rate surged to above $490 on November 4 - its high point of the last year. This spike is supposedly linked...
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Video: Keiser Report: Trust Machine aka Bitcoin (E832)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the 'trust machine' ... Via...
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Video: Bitcoin Prices Are Going Dramatically Up, BTC Jesus Prophecies

In this video Luke Rudkowski interview Roger Ver or known as Bitcoin Jesus about the latest news of the crypto currency raising to over...
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Video: Keiser Report: Money Laundering and Bitcoins (E819)

Check Keiser Report website for more: http://www.maxkeiser.com/ In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the big banks ... Via...

Bitcoin ‘Elites’ Plan Secret Bilderberg Style Confab

Fifty of the world’s most prominent Bitcoin chieftains are set to gather in secret at an undisclosed Caribbean resort in a roundtable gathering that...

Bitcoin dismissed as a currency for terrorists and drug dealers

There is a concerted effort by government and banks to destroy the bitcoin and cyber currency movement. Kurt Nimmo The “growing cryptocurrency ecosystem” is often...

WikiLeaks, Anonymous, Bitcoin, and the First Amendment Revolution

Nozomi Hayase Since 2011, from the Arab Spring and Spanish Revolution to Occupy, waves of global uprisings have been erupting as never before. The crisis...

US govt to auction $18mn worth of bitcoin seized from Silk Road

The US government is set to auction off $18 million worth of bitcoins seized from an online drugs market known as Silk Road. The...

Bitcoin, Anarchy and Freedom with Roger Ver

Money is the common denominator in our current financial system, the currency that facilitates all of our daily interactions. We take its existence for granted, and while the debate in recent years has grown to include whether or not the government sho...

Interview 866 — Roger Ver Advocates Voluntaryism (and Bitcoin)

Today we talk face to face with entrepreneur, investor and Bitcoin proponent Roger Ver of RogerVer.com. In this conversation we discuss Roger\'s own journey toward the philosophy of voluntaryism, its main precepts, and the moral arguments in its favour.

The Collapse Of Bitcoin

Bitcoin is a virtual currency that has no intrinsic value.  The only thing giving bitcoin value is the faith that people have in it, and now that faith has been shattered.  This week, the most prominent bitcoin exchange in the entire world, Mt. Gox, totally collapsed.  At one time, Mt. Gox boasted more than a [...]

Interview 828 — Power Hour: Bitcoin Woes and Banker Deaths

In this edition of their bi-monthly talk on The Power Hour James and Joyce discuss the Chinese debt bubble, plummeting Bitcoin prices, banker deaths, the biggest fraud in the world and more. They also take your calls on a range of subjects from false flags to the petroyuan to weather manipulation.

New York City getting its first Bitcoin ATM

A Brooklyn native has taken the preliminary steps towards getting New York City its first Bitcoin ATM.Read Full Article at RT.com Source: RT

Bitcoins for Beer

Bob Tuskinbobtuskin.comJanuary 13, 2014 Bitcoins are becoming more and more widely accepted. About a month ago...

Bitcoin ATMs Are Coming To New York City

Zero HedgeJanuary 13, 2014 With over 1,000 new merchants adopting Bitcoin every week, it is perhaps...

China’s E-Commerce Giant Alibaba Bans Bitcoin

Joe WeisenthalBusiness InsiderJanuary 8, 2014 Another blow for Bitcoin in China. Alibaba – the e-commerce giant –...

Paul Krugman is scared. He says “Bitcoin is evil.” Undermines central banks.

Nick Sorrentinoagainstcronycapitalism.orgDecember 29, 2013 Dr. Krugman fears that Bitcoin was created to further a “libertarian agenda,”...

A Trip Through The Bitcoin Mines

Zero Hedgelewrockwell.comDecember 27, 2013 Once upon a time, money — in the form of precious metals...

Bloomberg anchor displays bitcoin on TV, immediately gets robbed by viewer

Bloomberg TV provided viewers with an important lesson in digital currency when one of its anchors had his gift card stolen as he was...

Online Black Market Admin: Feds Stole $33.6 in Bitcoins

Kurt NimmoInfowars.comDecember 23, 2013 More than peer-to-peer networking, the government hates the idea of hidden and...

Who Owns the World’s Biggest Bitcoin Wallet? The FBI

By Robert Mcmillan In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread...

FBI is global stakeholder in cryptocurrency, currently owns largest bitcoin wallet

When the FBI shut down the Silk Road, an internet black market, in October it also seized the accused owner's assets and inadvertently became...

Bitcoin Tumbles After Bank of China Rumors Confirmed

Zero HedgeDecember 17, 2013 UPDATE: The earlier rumors have been confirmed: People's Bank of China told more than 10 third-party payment service providers yesterday not...

Norway: Bitcoin isn’t money, it’s a taxable asset

Patrick Howell O'Neill The world's governments are taking a serious look at Bitcoin. After regulators in the United States, European Union and China have put spotlights...

Max Keiser Breaks Down Bitcoin

Infowars.comDecember 14, 2013 Alex and Max Keiser continue on the topic of rigged global markets and fiat currency vs bitcoin. This article was posted: Saturday,...

European watchdog rings alarm bells over bitcoin

The EU banking regulator has warned of a “possible risk” using virtual currency such as bitcoin, which is program code and isn't regulated by...

Producer of Physical “Casascius” Bitcoins is Being Targeted by the Feds

libertyblitzkrieg.comDecember 13, 2013 Meet Mike Caldwell. He is the maker of what seems to be the most popular physical bitcoins on the market, the Casascius...

Federal regulators tell Bitcoin mint to shut down

The United States government hasn't decided on the legality of Bitcoin just yet, but federal regulator have determined that a Utah man must stop...

Will Digital Currency Replace the US Dollar? Wall Street Strategy to Make Bitcoin the...

Matthias Chang RINF Alternative News Bitcoin — The Potential Monsanto of Digital Currency? Its ultimate objective is to control, control of the “alternative currency” when the Petro-Dollar...

Will Digital Currency Replace the US Dollar? Wall Street Strategy to Make Bitcoin the...

Matthias Chang RINF Alternative News Bitcoin — The Potential Monsanto of Digital Currency? Its ultimate objective is to control, control of the “alternative currency” when the Petro-Dollar...

Kentucky town to pay police chief in bitcoin

City employees in Vicco, Kentucky could be receiving their paychecks in the form of bitcoin as early as this month after officials there agreed...

Ron Paul: Bitcoin could ‘destroy the dollar’

Jose Pagliery Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today's money worth...

Greenspan Baffled Over Bitcoin ‘Bubble’: “To Be Worth Something, It Must Be Backed By...

“In order for currencies to be ‘exchangeable' they have to be backed by something,” is the remarkably ironic initial comment from none other than...

There’s a £60m Bitcoin Heist Going Down Right Now — Watch It In Real...

Via The New Statesman: One of the largest heists in bitcoin history is happening right now. 96,000 bitcoins — that's roughly £60m as of the...

Police Chief Asks to be Paid in Bitcoin, City Approves

Cris Ritchie The city commission in Vicco approved a measure on Monday to begin paying the city's police chief in a virtual currency, a...

Donate Bitcoins

Infowars.comDecember 2, 2013 Donate Bitcoin to the Mises Institute https://t.co/5Ih6gITiwM — RonPaulVote (@jonflombee) December 2, 2013 ...

Interview 781 — The Power Hour: China, Bitcoin, Open source

James Corbett joins Joyce Riley on The Power Hour every other Monday to discuss matters financial, economic, geopolitical and social. This time they talk about the rise of China as the next big boogeyman on the world stage; the rise of Bitcoin as the next speculative bubble; and the rise of open source as an alternative paradigm for the creation and propagation of media. We also take your calls on a host of issues.

The Bitcoin FAQ: What Newcomers Need To Know

The following is an excerpt from The Bitcoin Primer: Risks, Opportunities, And Possibilities, my new book on global digital currency Bitcoin. I'm an early adopter...

As Bitcoin Prices Increase, So Do Concerns

With the price of a single Bitcoin exploding by 4000 percent just since January and by 400 percent in the last month, concerns are...

The Bitcoin Bubble, Or Is It? Two Charts, Historical Price Movement, and the Conspiracy

via chycho I wish I wasn't making this post and I hope I'm wrong. I love the concept of Bitcoin and the prospect of the...

Bitcoin Worth More Than Gold, Then Collapses

And then Bitcoin collapses 13% minutes later… It seems the growing tensions in Asia (Japan-China sabre-rattling and Indian capital controls) have prompted more great rotation...

Bitcoin passes $1,000 mark for the first time, up over 62% in a week

Emil Protalinski Bitcoin hit a new milestone today, passing the $1,000 mark for the first time. The virtual currency is currently trading above the four-digit...

The Bitcoin Continues to Gain Credibility From Merchants and the Fed

When Jeff Klee was asked by a client if his travel agency, CheapAir.com, would accept Bitcoins, he admitted he didn't even know what they...

Someone Just Bought $148 Million Worth Of Bitcoin

Rob Wilebusinessinsider.comNovember 22, 2013 That's about 195,000 Bitcoins. We say transacted because there is no way of knowing whether any money actually changed hands. The Bitcoins...

Cyprus University First to Accept Bitcoins for Tuition in the World

RTNovember 21, 2013 The University of Nicosia (UNic), one of the major English language universities in the Mediterranean, will become the world's first to accept...

The Rise of Bitcoin and Fall of the U.S Dollar

In this video Luke Rudkowski interviews Jeff Berwick of the dollar vigilante about the future of the U.S economy and the rise of bitcoin....

Government Is Taking Steps to Regulate Bitcoin

Senators attending this week's hearing entitled “Beyond Silk Road: Potential Risks, Threats and Promises of Virtual Currencies” being held by the Senate Homeland Security...

Authorities See the Worth of BitCoin

Authorities are taking a second look at BitCoin, but what will this mean for those who use the currency? Wall Street Journal: U.S. authorities, appearing Monday...

What’s Your View on Bitcoin? — QFC011 (video)

As James prepares to deliver a keynote address to an open source conference in France this month, he takes some time out of his schedule to answer some of the questions that have come in for #QFC. Topics include the depopulation agenda, localization, J...

FEC to allow bitcoin donations to political campaigns

Ben GoadThe HillNovember 9, 213 The Federal Election Commission (FEC) is proposing to allow federal candidates to receive digital donations, though the agency plans to...

What’s Your View on Bitcoin? — Questions For Corbett #011

As James prepares to deliver a keynote address to an open source conference in France this month, he takes some time out of his schedule to answer some of the questions that have come in for #QFC. Topics include the depopulation agenda, localization, Japan\'s "sexless" youth, Gladio B, anarchy and the environment, and the insurance on the Twin Towers.

World’s First Bitcoin ATM Processes $100k in Transactions in its First 8 Days

libertyblitzkrieg.comNovember 8, 2013 The logo of the cryptocurrency known as Bitcoin. A little over a week ago, the world's first Bitcoin ATM was launched to much...

Bitcoin Flirts With Price Above $300 Per Coin, New Record High

Bitcoin has achieved the impossible, becoming the world's most valued currency not created by any central bank or government entity. Earlier today, markets saw...

Bitcoin Comes Under Senate Scrutiny

Ryan Tracy Wall Street Journal November 6, 2013 Bitcoin is about to get some time in the Capitol Hill spotlight. A pair of Senate committees will hold hearings...

The First Bitcoin ATM

Could this be the stepping stone to the exchange of completely electronic currency? Bitcoin ATM VIA NBC NEWS VANCOUVER (Reuters) – A silver and blue ATM, perched...

RIAA warns against bitcoin, The Pirate Bay in latest ‘notorious websites’ list

Hoping to convince the US federal government to block websites it deems harmful to business, the RIAA has submitted its list of “notorious websites”...

Feds seize $28 million in bitcoins from alleged Silk Road operator

James O'TooleCNN MoneyOctober 26, 2013 The Bitcoin logo. Federal officials announced the largest-ever seizure of bitcoins on...

FBI makes record $28 million Bitcoin bust

US authorities have reported their largest-ever Bitcoin bust amounting to $28 million of the digital currency. It was seized from the owner of the...

FBI unable to seize 600,000 Bitcoins from Silk Road operator

Ryan Whitwam Extreme Tech Oct. 7, 2013 Closing down the Silk Road and arresting its alleged operator has left the FBI in uncharted territory....

Protest by payment: Users ‘locate’ FBI Silk Road wallet, send mocking Bitcoin donations

Internet users are attaching critical messages to tiny donations to what they believe to be the FBI's Bitcoin wallet. The wallet, which is worth...

Is Bitcoin Mining Dead?

PatrickPlanet InfowarsSept. 10, 2013 Some of my thoughts on Bitcoin. This post appeared in the Economics category. ...

After subpoenas, Bitcoin companies start lobbying Washington

Less than one month after regulators in New York issued subpoenas to major companies involved with the Bitcoin digital currency, representatives for the emerging...

Federal Court Rules That the Bitcoin Is Money

When the Securities and Exchange Commission (SEC) charged Trendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) with running a Ponzi scheme, Shavers challenged...

Court officially declares Bitcoin a real currency

A federal judge has for the first time ruled that Bitcoin is a legitimate currency, opening up the possibility for the digital crypto-cash to...

SEC brings charges as first-ever Bitcoin Ponzi scheme unravels

Bitcoin, the virtual currency that has been gaining momentum in recent years, now seems to have reached the dubious milestone of its first Ponzi...

SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi Scheme

zerohedge.com July 23, 2013 That didn’t take long. From the SEC: The Securities and Exchange Commission today charged...

Virtual currencies under scrutiny: Bitcoin’s next

Systems for virtual currencies, largely perceived as an alternative to crisis stricken traditional banking, are now pressed on all fronts. Since US federal prosecutors...

Feds raid Liberty Reserve and indict founders on money laundering charges… is Bitcoin next?

Mike AdamsNatural NewsMay 29, 2013 If there’s one thing monopolists hate, it’s competition. That’s probably why...

Bitcoin: Fad, fraud or the future?

<!--Patrick Young-->Patrick L Young is expert in global financial markets working in multiple disciplines, ranging from trading independently to running exchanges. ...

Should Palestine switch from the shekel to Bitcoin?

<!--Max Keiser-->Max Keiser, the host of RT's ‘Keiser Report,’ is a former stockbroker, the inventor of virtual specialist technology and co-founder of the Hollywood...

U.S. seizes operator accounts of major Japanese Bitcoin exchange

Brett WolfReutersMay 17, 2013 U.S. authorities have seized two accounts linked to a major operator in...

‘Central banks looking at Bitcoin as real threat to dominance’

Governments and banking officials are watching Bitcoin in fear of losing their leading position to the virtual currency and the infrastructure building around it,...

‘Non-political’ Bitcoin is ‘like internet — can’t be put away easily’

The crackdown campaign against the Bitcoin payment system was instigated by banks which see it as an “existential threat” to current financial system “crashing...

US seizes top Bitcoin exchange as crackdown begins

The US Department of Homeland Security seized a payment processing account Tuesday belonging to Mt. Gox, the largest international Bitcoin trader, claiming the monetary...

US Begins Regulating BitCoin, Will Apply “Money Laundering” Rules To Virtual Transactions

Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet titled "Virtual Currency Schemes" in which it mocked and warned about the "ponziness" of such electronic currencies as BitCoin. Why a central bank would stoop so "low" to even acknowledge what no "self-respecting" (sic) PhD-clad economist would even discuss, drunk and slurring, at cocktail parties, remains a mystery to this day. However, that it did so over fears the official artificial currency of the insolvent continent, the EUR, may be becoming even more "ponzi" than the BitCoins the ECB was warning about, was clear to everyone involved who saw right through the cheap propaganda attempt. Feel free to ask any Cypriot if they would now rather have their money in locked up Euros, or in "ponzi" yet freely transferable, unregulated BitCoins.

For the answer, we present the chart showing the price of BitCoin in EUR terms since the issuance of the ECB's paper:

Therein, sadly, lies the rub.

As central banks have been able to manipulate the price of precious metals for decades, using a countless plethora of blatant and not so blatant trading techniques, whether involving "banging the close", abusing the London AM fix, rehypothecating and leasing out claims on gold to short and re-short the underlying, creating paper gold exposure out of thin air with which to suppress deliverable prices, or simply engaging in any other heretofore unknown illegal activity, the parabolic surge in gold and silver has, at least for the time being - and especially since the infamous, and demoralizing May 1, 2011 silver smackdown - lost its mojo.

But while precious metals have been subject to price manipulation by the legacy establishment, even if ultimately the actual physical currency equivalent asset, its "value" naively expressed in some paper currency, may be in the possession of the beholder, to date no price suppression or regulation schemes of virtual currencies existed.

It was thus only a matter of time before the same establishment was forced to make sure that money leaving the traditional M0/M1/M2/M3 would not go into alternative electronic currency venues, but would instead be used to accelerate the velocity of the money used by the legacy, and quite terminal, monetary system.

After all, what if not pushing savers to spend, spend, spend and thus boost the money in circulation, was the fundamental purpose of the recent collapse in faith in savings held with European banks?

So, as we had long expected, the time when the global Keynesian status quo refocused its attention from paper gold and silver prices, to such "virtual" currencies as BitCoin has finally arrived.

The WSJ reports that, "the U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on the Internet are being used to fund illicit activities. The move means that firms that issue or exchange the increasingly popular online cash will now be regulated in a similar manner as traditional money-order providers such as Western Union Co. They would have new bookkeeping requirements and mandatory reporting for transactions of more than $10,000. Moreover, firms that receive legal tender in exchange for online currencies or anyone conducting a transaction on someone else's behalf would be subject to new scrutiny, said proponents of Internet currencies.

And just like that, there goes a major part of the allure of all those virtual currencies such as BitCoin that consumers had turned to, and away from such rapidly devaluing units of exchange as the dollar and euro. Because if there was one medium of exchange that was untouched, unregulated, and unmediated by the US government and other authoritarian, despotic regimes around the insolvent "developed world", it was precisely transactions involving BitCoin.

That is no longer the case, as the bloodhound of the Federal Reserve has now turned its attention toward BitCoin, and will not stop until it crashes both its value to end-users, and its utility, in yet another attempt to force the USD, and other fiat, upon global consumers as the only forms of allowed legal tender.

More from the WSJ:

The rising popularity of virtual currencies, while no more than a drop in the bucket of global liquidity, is being fueled by Internet merchants, as well as users' concerns about privacy, jitters about traditional currencies in Europe and the age-old need to move money for illicit purposes.

The arm of the Treasury Department that fights money laundering said Monday that the standard federal banking rules aimed at suspicious dollar transfers also apply to firms that issue or exchange money that isn't linked to any government and exists only online.

Naturally, the actual object of US monetary persecution, is BitCoin:

"We are beyond the stage where this was just funny money and a fun online thing. This is used as a currency," said Nicolas Christin, associate director of Carnegie Mellon University's Information Networking Institute.

Bitcoins can be used in a host of legitimate transactions—for example, website Reddit allows users to upgrade services using bitcoins and blog service Wordpress.com's store accepts them as a form of payment. Pizzaforcoins.com also lets bitcoin savers pay for deliveries through Domino's and other pizzerias.

The problem with virtual currencies is that defining what is permitted in a narrow regulatory sense, is impossible, which is why any definition will be as broad as possible: after all what better way to spook users than to make virtually any transaction borderline illegal:

Creating clear-cut rules for virtual currencies is difficult. A FinCen official said that anti-money-laundering rules would apply depending on the "factors and circumstances" of each business. The rules don't apply to individuals who simply use virtual currencies to purchase real or virtual goods.

The new guidance "clarifies definitions and expectations to ensure that businesses…are aware of their regulatory responsibilities," said Jennifer Shasky Calvery, FinCen director.

The FBI report last year said Bitcoin attracts cybercriminals who want to move or steal funds. "Bitcoin might also logically attract money launderers and other criminals who avoid traditional financial systems by using the Internet to conduct global monetary transfers," the report said. An FBI spokeswoman declined to comment when asked about the agency's concerns regarding virtual currencies.

We were not the only ones to expect imminent intervention from Big Brother:

Some firms say they anticipated the rules. Charlie Sherm, chief executive of bitcoin payment processor BitInstant, said his company is already compliant.

Mr. Christin of Carnegie Mellon said that he believes Bitcoin's dominant use right now is speculation.

"When you have a commodity or currency whose value has grown as rapidly as Bitcoin it makes sense to hold on to it as a speculative instrument," he said. It also is commonly used for online black markets or gambling sites. "Whether used for money laundering…there is no smoking gun."

As to the question of timing - why now - the answer is simple. Europe. After all, it was only yesterday that we wrote that "In Spain, The Bitcoin Run Has Started." It is self-explanatory that if such an exodus away from legacy currencies and into BitCoin was left unchecked, more and more people would follow suit, which is why it had to be intercepted as early as possible.

The jump in the bitcoin exchange rate this week also coincides with concerns euros could be taken from retail bank accounts in Cyprus to fund a bailout. Internet blogs say speculators are looking toward currency alternatives.

Well, if internet blogs say... Of course, internet blogs also say that if and when the fascination with virtual currencies fizzles, all those who are disgusted with the abuse of fiat will not cease from seeking USD, EUR, JPY, GBP and CHF alternatives, but will merely go back to the safety of having hard assets as a currency, namely silver and gold, instead of electronic ones and zeroes, which the US government, in all its Orwellian benevolence may one day, for lack of a better word, hack right out of existence.

On the other hand, the regime's desperation is reaching such a level that a Executive Order 6102-type confiscation of all hard asset currencies may not be far behind.

Because forewarned, is forearmed.

Your rating: None Average: 4.9 (14 votes)

In Spain, The Bitcoin Run Has Started

Something extreme is happening in Europe. Since Sunday, Bloomberg Businessweek reports a trio of Bitcoin apps have soared up Spain's download charts, coinciding with news that cash-strapped Cyprus was planning to raid domestic savings accounts to pay off a $13 billion bailout tab. “This is an entirely predictable and rational outcome for what’s happening in Cyprus,” says ConvergEx's Nick Colas. "If you want to get a good sense of the stress European savers are feeling, just watch Bitcoin prices."

The value of the virtual currency has soared almost 30 percent in the last two days. "One hundred percent of that is due to Cyprus," says Colas. "It means the Europeans are getting involved." As German economist Peter Bofinger warned in an interview with Spiegel Online: "European citizens must now fear for their money."

The same apps download data, however, showed that Italians aren’t ready to abandon commercial banking, remarkable as many Italians still recall that black day in 1992 when they woke up to a levy on their savings accounts to prop up the nation’s teetering finances.

The EUR price for a Bitcoin has jumped from around EUR37 to over EUR50 in the last two days as reality hits... and look at the volume...

Nassim Taleb (On Reddit) - via Mike Krieger (@LibertyBlitz):

"Bitcoin is the beginning of something great: a currency without government, something necessary and imperative."

Chart: Bitcoincharts

Your rating: None Average: 4.6 (9 votes)

Chart Of The Day: Is The ECB Responsible For The Second Coming Of BitCoin?

That precious metals are not the best friends of central banks, whose sole provenance is in creating, and lately massively diluting, faith-based fiat currency is no secret, especially not after the recent snafu involving the Bundesbank and its shocking gold repatriation announcement which came in direct refutation of its public statements just 2 months earlier about faith in the NY Fed this, and bashing of a "phantom debate" on the safety of gold reserves that. Yet it was not gold gold, silver or even tungsten that was the object of derision in an amusing paper released by the ECB in early November titled "Virtual Currency Schemes", which we profiled at the time, but rather the decentralized electronic currency BitCoin, which was supposed to highlight what, in the eyes of the Draghi-led Frankfurt institutions, is nothing but a Ponzi scheme.

Why the ECB suddenly felt threatened so much by Bitcoin, it felt an imperative to issue a 55 page paper decrying such electronic currencies we will never know. What we do know, however, courtesy of a reminder by Bloomberg's Max Raskin, is that since the publication of said paper, the value of Bitcoin as tracked by the Mtgox exchange, has soared some 40% in just under three months, from a "fiat equivalent value" of $13 to a most recent closing price of $18.50, and has doubled in the past 12 months alone.

So one wonders: after soaring to an all time high of $30 before crashing concurrent with the epic May 1, 2011 takedown of silver, was none other than the European Central Bank responsible for the recent second coming of BitCoin which is now slowly but surely creeping back to its all time highs, and what happens to all alternative "virtual" currencies once BitCoin returns to all time highs: will the Fed, the ECB, and the BIS have their hands full with pushing gold lower to care too much about this electronic currency, or will their attention then be diverted away from the daily precious metals smackdown to focus on this threat that at least in Europe is so large, the ECB itself had to chime in?

More from Bloomberg:

The CHART OF THE DAY shows that bitcoin has more than doubled in the past 12 months, strengthening to $16.37 from $5.88, according to data from Mt. Gox, the world’s largest bitcoin exchange. The money, issued by a decentralized network of computers, has recovered after falling to $2.14 in November 2011 from a high of $29.58 five months earlier.

Greater demand for virtual currencies could have a negative impact on the reputation of central banks, according to a report published by the European Central Bank in October last year. Since the report was released, bitcoin has risen more than 55 percent against the dollar and use of the currency has surged.

Bitpay Inc., a bitcoin payment processing company that recently raised $510,000 in an investment round, this month announced that the number of companies using its services has increased almost 50 percent to more than 2,000 since November, when blog management firm WordPress.com said it would accept the digital currency.

I think the ECB obviously is concerned, and it’s not reputational,” said Steve Hanke, a professor at Johns Hopkins University in Baltimore who helped to establish new currency regimes in countries such as Argentina and Bulgaria. “I think it’s a competitive threat. Maybe virtual currencies will be so convenient that they will pose a threat because of their ease of use.”

And as a reminder, for pure comedy value, here is the ECB, again, defining what a Ponzi scheme is without referencing itself even once:

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity

Listen to the ECB: if nothing, it certainly is an expert on the topic of Ponzi schemes.

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Recently revealed statements by former UK Prime Minister Gordon Brown at the height of the banking crisis in October 2008 could give some insights into that question. An article on BBC News on September 21, 2013, drew from an explosive autobiography called Power Trip by Brown’s spin doctor Damian McBride, who said the prime minister was worried that law and order could collapse during the financial crisis. McBride quoted Brown as saying:

If the banks are shutting their doors, and the cash points aren’t working, and people go to Tesco [a grocery chain] and their cards aren’t being accepted, the whole thing will just explode.

If you can’t buy food or petrol or medicine for your kids, people will just start breaking the windows and helping themselves.

And as soon as people see that on TV, that’s the end, because everyone will think that’s OK now, that’s just what we all have to do. It’ll be anarchy. That’s what could happen tomorrow.

How to deal with that threat? Brown said, “We’d have to think: do we have curfews, do we put the Army on the streets, how do we get order back?”

McBride wrote in his book Power Trip, “It was extraordinary to see Gordon so totally gripped by the danger of what he was about to do, but equally convinced that decisive action had to be taken immediately.” He compared the threat to the Cuban Missile Crisis.

Fear of this threat was echoed in September 2008 by US Treasury Secretary Hank Paulson, who reportedly warned that the US government might have to resort to martial law if Wall Street were not bailed out from the credit collapse.

In both countries, martial law was avoided when their legislatures succumbed to pressure and bailed out the banks. But many pundits are saying that another collapse is imminent; and this time, governments may not be so willing to step up to the plate.

The Next Time WILL Be Different

What triggered the 2008 crisis was a run, not in the conventional banking system, but in the “shadow” banking system, a collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but are unregulated.  They include hedge funds, money market funds, credit investment funds, exchange-traded funds, private equity funds, securities broker dealers, securitization and finance companies. Investment banks and commercial banks may also conduct much of their business in the shadows of this unregulated system.

The shadow financial casino has only grown larger since 2008; and in the next Lehman-style collapse, government bailouts may not be available. According to President Obama in his remarks on the Dodd-Frank Act on July 15, 2010, “Because of this reform, . . . there will be no more taxpayer funded bailouts – period.”

Governments in Europe are also shying away from further bailouts. The Financial Stability Board (FSB) in Switzerland has therefore required the systemically risky banks to devise “living wills” setting forth what they will do in the event of insolvency. The template established by the FSB requires them to “bail in” their creditors; and depositors, it turns out, are the largest class of bank creditor. (For fuller discussion, see my earlier article here.)

When depositors cannot access their bank accounts to get money for food for the kids, they could well start breaking store windows and helping themselves. Worse, they might plot to overthrow the financier-controlled government. Witness Greece, where increasing disillusionment with the ability of the government to rescue the citizens from the worst depression since 1929 has precipitated riots and threats of violent overthrow.

Fear of that result could explain the massive, government-authorized spying on American citizens, the domestic use of drones, and the elimination of due process and of “posse comitatus” (the federal law prohibiting the military from enforcing “law and order” on non-federal property). Constitutional protections are being thrown out the window in favor of protecting the elite class in power.

The Looming Debt Ceiling Crisis

The next crisis on the agenda appears to be the October 17th deadline for agreeing on a federal budget or risking default on the government’s loans. It may only be a coincidence, but two large-scale drills are scheduled to take place the same day, the “Great ShakeOut Earthquake Drill” and the “Quantum Dawn 2 Cyber Attack Bank Drill.” According to a Bloomberg news clip on the bank drill, the attacks being prepared for are from hackers, state-sponsored espionage, and organized crime (financial fraud). One interviewee stated, “You might experience that your online banking is down . . . . You might experience that you can’t log in.” It sounds like a dress rehearsal for the Great American Bail-in.

Ominous as all this is, it has a bright side. Bail-ins and martial law can be seen as the last desperate thrashings of a dinosaur. The exploitative financial scheme responsible for turning millions out of their jobs and their homes has reached the end of the line. Crisis in the current scheme means opportunity for those more sustainable solutions waiting in the wings.

Other countries faced with a collapse in their debt-based borrowed currencies have survived and thrived by issuing their own. When the dollar-pegged currency collapsed in Argentina in 2001, the national government returned to issuing its own pesos; municipal governments paid with “debt-canceling bonds” that circulated as currency; and neighborhoods traded with community currencies. After the German currency collapsed in the 1920s, the government turned the economy around in the 1930s by issuing “MEFO” bills that circulated as currency. When England ran out of gold in 1914, the government issued “Bradbury pounds” similar to the Greenbacks issued by Abraham Lincoln during the US Civil War.

Today our government could avoid the debt ceiling crisis by doing something similar: it could simply mint some trillion dollar coins and deposit them in an account. That alternative could be pursued by the Administration immediately, without going to Congress or changing the law, as discussed in my earlier article here. It need not be inflationary, since Congress could still spend only what it passed in its budget. And if Congress did expand its budget for infrastructure and job creation, that would actually be good for the economy, since hoarding cash and paying down loans have significantly shrunk the circulating money supply.

 Peer-to-peer Trading and Public Banks

At the local level, we need to set up an alternative system that provides safety for depositors, funds small and medium-sized businesses, and serves the needs of the community.

Much progress has already been made on that front in the peer-to-peer economy.  In a September 27th article titled “Peer-to-Peer Economy Thrives as Activists Vacate the System,” Eric Blair reports that the Occupy Movement is engaged in a peaceful revolution in which people are abandoning the established system in favor of a “sharing economy.” Trading occurs between individuals, without taxes, regulations or licenses, and in some cases without government-issued currency.

Peer-to-peer trading happens largely on the Internet, where customer reviews rather than regulation keep sellers honest. It started with eBay and Craigslist and has grown exponentially since. Bitcoin is a private currency outside the prying eyes of regulators. Software is being devised that circumvents NSA spying. Bank loans are being shunned in favor of crowdfunding. Local food co-ops are also a form of opting out of the corporate-government system.

Peer-to-peer trading works for local exchange, but we also need a way to protect our dollars, both public and private. We need dollars to pay at least some of our bills, and businesses need them to acquire raw materials. We also need a way to protect our public revenues, which are currently deposited and invested in Wall Street banks that have heavy derivatives exposure.

To meet those needs, we can set up publicly-owned banks on the model of the Bank of North Dakota, currently our only state-owned depository bank. The BND is mandated by law to receive all the state’s deposits and to serve the public interest. Ideally, every state would have one of these “mini-Feds.” Counties and cities could have them as well. For more information, see http://PublicBankingInstitute.org.

Preparations for martial law have been reported for decades, and it hasn’t happened yet. Hopefully, we can sidestep that danger by moving into a saner, more sustainable system that makes military action against American citizens unnecessary.

______________

Ellen Brown is an attorney, president of the Public Banking Institute, and author of twelve books, including the best-selling Web of Debt. In The Public Bank Solution, her latest book, she explores successful public banking models historically and globally. Her 200-plus blog articles are at EllenBrown.com.

 

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The most despicable group of political gangsters in America have targeted this site and everything it stands for destruction. Who are they? The neoconservatives. Originating in Trotskyism, through their cells in New York City in the 1930s, this bunch now controls much of the American right, on which they have fastened their ideology of constant war, the police state, the welfare state, militarism, and Soviet-like thought control. If you read their own books, they are open about their devotion to the “noble lie,” an idea they got from Plato. It is a virtue, they claim, to lie to the people, … Continue reading

Maher Mocks Catholicism, Argues Religion Is ‘Like Wikipedia’

Maher Mocks Catholicism, Argues Religion Is ‘Like Wikipedia’

Posted on Mar 24, 2013
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Comedian Bill Maher slammed the Catholic Church during the “New Rules” segment on the latest episode of “Real Time.” Among his complaints, Maher, who was raised Catholic, says he’s tired of the media fawning over everything newly elected Pope Francis does.

“I have just about had it with the press squealing in delight at every mundane thing the new pope does. ‘Oh, look, he walked across the street! He picked the name Francis! He shook hands!’ Oh, fuck, he’s a 76-year-old executive who got a promotion; they act like he’s a baby who just made a boom-boom,” the comedian said on his show Friday night.

Turning his attention toward the religion as a whole, Maher compared the church to his HBO program. Citing several examples of Catholic doctrine not found in the Bible, Maher claimed that the rules were being made up as the religion went along. 

“The Catholic Church has basically always done what we do here at ‘Real Time.’ It’s a bunch of guys sitting around making up new rules.”

He concluded, “I tell you, religion, it’s like Wikipedia. Anyone can write something in.”

(h/t The Raw Story)

—Posted by Tracy Bloom.

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